LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz reminds investors of the upcoming October 28, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Semler Scientific Inc. (“Semler” or the “Company”) (NASDAQ: SMLR) securities between March 10, 2021 and April 15, 2025, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON SEMLER SCIENTIFIC INC. (SMLR), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On February 28, 2025, Semler filed its annual report for full year 2024 and disclosed that “there is a risk that [U.S. Department of Justice (“DOJ”)] will file a complaint or complaint in intervention in a civil False Claims Act lawsuit seeking damages for tests performed using our device[.]” The Company also revealed it had received an initial civil investigative demand from the DOJ in July 2017 regarding Semler’s claims for reimbursement related to its peripheral artery disease QuantaFlo device. The Company further stated that it had participated in settlement discussions with the DOJ in February 2025, which were unsuccessful.
On this news, Semler’s stock price fell $4.03, or 9.4%, to close at $38.89 per share on March 3, 2025, thereby injuring investors.
Then, on April 15, 2025, Semler announced that it had reached an agreement with the DOJ “in principle on payment of $29.75 million to settle all claims.”
On this news, Semler’s stock price fell $3.40, or 9.9%, to close at $31.00 per share on April 16, 2025, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Semler did not disclose a material investigation by the United States Department of Justice into violations of the False Claims Act, while discussing possible violations of the False Claims Act (and aggressive DOJ enforcement thereof) in hypothetical terms; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Semler securities between March 10, 2021 and April 15, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is October 28, 2025.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Contact Us:
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
